Attock Petroleum Financial Report 2010

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BALANCE SHEET
AS AT JUNE 30, 2010 Note 2009

2010 Rupees ('000)

SHARE CAPITAL AND RESERVES Authorised capital 6 1,500,000 1,500,000

Issued, subscribed and paid up capital Reserves Special reserve Revenue reserve Unappropriated profit

6

576,000

576,000

7

17,043

34,097

8,643,534 9,236,577

6,472,171 7,082,268

NON CURRENT LIABILITIES

Long term deposits

8

178,908

159,538

Deferred income tax liability

9

110,000 288,908

92,000 251,538

CURRENT LIABILITIES

Trade and other payables

10

11,554,057

10,730,633

Provision for income tax

363,110 11,917,167

207,993 10,938,626

CONTINGENCIES AND COMMITMENTS

11

21,442,652

18,272,432

54

ATTOCK PETROLEUM LIMITED - 2010 ANNUAL REPORT

Note

2010 Rupees ('000)

2009

NON CURRENT ASSETS

Property, plant and equipment

12

1,217,217

1,130,875

Long term investments in associated companies

13

765,739

733,397

Long term prepayments

14

30,463

-

CURRENT ASSETS

Stores and spares

6,630

2,827

Stock in trade

15

993,282

141,507

Trade debts

16

7,602,060

7,835,521

Advances, deposits, prepayments and other receivables 17 719,904 993,395

Short term investments

18

831,754

-

Cash and bank balances

19

9,275,603 19,429,233

7,434,910 16,408,160

21,442,652 The annexed notes 1 to 37 form an integral part of these financial statements.

18,272,432

Shuaib A. Malik Chief Executive

Babar Bashir Nawaz Director
ATTOCK PETROLEUM LIMITED - 2010 ANNUAL REPORT 55

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED JUNE 30, 2010 Note 2009

2010 Rupees ('000)

Sales Sales tax NET SALES Cost of products sold GROSS PROFIT Other operating income Operating expenses OPERATING PROFIT Finance cost Income on bank deposits and short term investments Share of profit of associated companies Other charges PROFIT BEFORE TAXATION Provision for taxation PROFIT FOR THE YEAR

20

94,897,866 (12,105,948) 82,791,918

70,724,427 (8,861,275) 61,863,152 (58,570,802) 3,292,350 843,967 (477,069) 3,659,248 (28,992) 848,852 26,510 (225,199) 4,280,419 (1,198,000) 3,082,419

21

(79,032,034) 3,759,884

22 23

1,308,904 (480,860) 4,587,928

24 25 13 26

(319,865) 980,736 42,337 (444,827) 4,846,309

27

(1,252,000) 3,594,309

Earnings per share - Basic and diluted (Rupees)

28

62.40

53.51

The annexed notes 1 to 37 form an integral part of these financial statements.

Shuaib A. Malik Chief Executive
56 ATTOCK PETROLEUM LIMITED - 2010 ANNUAL REPORT

Babar Bashir Nawaz Director

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED JUNE 30, 2010 2009

2010 Rupees ('000) PROFIT FOR THE YEAR 3,594,309

3,082,419

Other comprehensive income

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,594,309

3,082,419

The annexed notes 1 to 37 form an integral part of these financial statements.

Shuaib A. Malik Chief Executive

Babar Bashir Nawaz Director
ATTOCK PETROLEUM LIMITED - 2010 ANNUAL REPORT 57

CASH FLOW STATEMENT
FOR THE YEAR ENDED JUNE 30, 2010 2009

2010 Rupees ('000) CASH FLOW FROM OPERATING ACTIVITIES Receipts from customers Price differential claims received from Government Payments for purchase of products and operating expenses Other charges paid Long term deposits received Income tax paid Cash flow from operating activities 84,410,682 672,210 (80,318,170) (345,807) 19,370 (1,078,883) 3,359,402

58,999,403 2,057,000 (57,920,198) (233,366) 38,401 (940,428) 2,000,812

CASH FLOW FROM INVESTING ACTIVITIES Fixed capital expenditure Proceeds from sale of property, plant and equipment Long term investments in associated companies Short term investments Income received on bank deposits and short term investments Dividend received from associated companies Cash flow from investing activities (215,396) 6,584 (386,014) 902,945 9,995 318,114 (293,032) 5,663 (22,679) 330,369 804,417...
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